Apple iPhone 5
Apple Pre-orders Open on Sep 14: Buy iPhone 5 at Price of iPhone 4S?Courtesy

As Apple Inc gets ready for its third quarter results, many are apprehensive on its earning following the hype around its upcoming next generation smartphone iPhone 5.

The much-anticipated iPhone 5 is expected to affect the earnings of Apple this quarter as consumers are likely to wait for the release of the next generation smartphone rather than buying the old models.

Apple may still surprise market watchers, but many Wall Street analysts and investors remember how chatter over the launch of a new iPhone last year caused Apple to miss quarterly expectations in the fall, for the first time in years, reported Reuters.

"No longer is Apple the company that beats every time," said Tim Lesko, portfolio manager at Granite Investment Advisors, which owns Apple stock, told Reuters. "I expect Apple to beat Apple's guidance, but I don't know whether they will beat Wall Street's guidance."

Speaking at Foxconn parent company, Hon Hai's annual shareholders meeting, CEO Terry Gou reportedly said that consumers will wait for iPhone 5.

"Consumers should wait for the iPhone 5 because it will put the Samsung Galaxy S III to shame," Focus Taiwan quoted Foxconn CEO Terry Gou as saying in China Times. "With (Foxconn's) marketing and manufacturing strengths and Sharp's key technologies, the two will be able to defeat their arch-rival Samsung," the report added.

According to rumours, iPhone 5 has features like - 4-inch Retina display, an A5X Variant chip, 1GB RAM, iOS 6, 4G LTE technology, Near Field Communication (NFC) technology, improved Siri, liquidmetal casing, an 8 megapixel (or even higher) rear camera, a 2 megapixel front-facing camera for video chatting and a much-improved battery life.

Apple has not revealed iPhone 5 release date but rumours are doing the rounds that it will be released this October.

(With Inputs from Reuters)